Torquay
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Prime Location Commercial Investment Opportunity – Businesses Unaffected
- Two Separately Let Premises – Thai Restaurant & Basement Bar – Both Well Established
- Combined Rental Income of £32,750 Per Annum Exclusive
- New 10-Year Restaurant Lease from September 2026
- Personal Guarantees and Upwards Only Open Market Rent Reviews
Description
The property is situated on Torwood Street in central Torquay, close to the harbour and waterfront. The location forms part of the town’s principle restaurant and leisure area, within convenient reach of the town centre and seafront. Torquay is one of the principal resorts on the English Riviera, serving a resident population alongside a substantial seasonal visitor market. The harbour and surrounding central area provide a natural focus for dining, leisure and evening entertainment. The property comprises a commercial investment arranged as two separately let premises: a Thai restaurant at ground floor level, together with extensive first floor accommodation and a rear yard and a separate basement wine bar with its own ground floor entrance. The restaurant is occupied by Jun Jaow Torquay Limited and the basement premises are let to The Hideaway Torquay Ltd. The investment provides two rental income streams, with the restaurant tenant having recently committed to a new ten-year lease. Both tenants’ businesses are entirely unaffected by the sale.
INVESTMENT SUMMARY
Two commercial occupational leases producing a combined annual rent of £32,750 exclusive, with Directors' Personal Guarantees and Upwards Only Market Rent Review provisions.
TENURE
Freehold, subject to the existing occupational leases.
TENANCY & LEASE SUMMARY
43 Torwood Street – Jun Jaow Thai Restaurant.
Tenant: Jun Jaow Torquay Limited.
Rent: £20,750 per annum exclusive.
Lease: 10 years from 25th September 2026, expiring 24th September 2036.
Rent review: Upwards Only Market Review on 25th September 2031.
Tenant break: 25th September 2031, subject to at least six months' prior written notice.
Guarantors: Ltd Company Directors' Guarantees.
Repairs: The tenant is responsible for repair and decoration of the demised premises, subject to the inherited Schedule of Condition, and pays a proportion of the building insurance. The landlord retains responsibility for the structure, roof and external maintenance and decoration, with the lease providing for a fair and proper contribution from the restaurant tenant towards those costs.
43A Torwood Street – Basement Bar.
Tenant: The Hideaway Torquay Ltd.
Rent: £12,000 per annum exclusive.
Lease: 10 years (unbroken) from 20th January 2023, expiring 19th...
ACCOMMODATION
The accommodation briefly comprises:
GROUND FLOOR & FIRST FLOOR - 43 TORWOOD STREET
Thai restaurant premises at ground floor level with first floor accommodation and a rear yard.
BASEMENT - 43A TORWOOD STREET
Separate bar premises, approached via their own ground floor entrance.
FLOOR AREAS
Restaurant – Ground Floor - Approx. 211 sq m 2,270 sq ft.
Restaurant – First Floor - 223.2 sq m 2,402 sq ft.
Bar – Basement - 130 sq m 1,400 sq ft.
VAT
VAT status to be confirmed.
EPC AWAITED
LEGAL COSTS
Each party to bear their own legal costs incurred in the transaction.
VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths. Both premises are occupied by trading businesses.
Interested parties are requested to respect the tenants' ongoing operations. Informal viewing or direct tenant contact is not permitted.
Brochures
Torquay
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Torquay Station1.0 miles
- Torre Station1.4 miles
- Paignton Station2.7 miles
Notes
Disclaimer - Property reference 12923530. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bettesworths, Devon. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.